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The move to a new factory and the R&D costs of its yet-to-be-launched folding electric bike have impacted on Brompton’s profits.
In the year ended 31st March 2016, profits at Brompton dropped 40 percent to £1.3 million. Annual turnover increased by 3.4 percent to £28.4 million.
Brompton moved from Brentford to its new factory in Greenford in 2015. The company believes it will be able to make 100,000 bikes a year from the new facility.
According to the Guardian, CEO Will Butler-Adams sees Brexit as beneficial for the company, which exports 80 percent of its goods.
Uncertainty over the country’s future trading relationship with the EU was “completely irrelevant”, he told the newspaper.
He added: “We are a little company going through growing pains.
“There are periods in manufacturing where you have got to take a big risk. We went to shareholders before we took them on this rollercoaster … they knew it was coming.”
